Baker Hughes Inc. closed its previously announced purchase of Weatherford International Plc’s pipeline and specialty services business, the companies announced on Sept. 2. The acquisition gives Baker Hughes an expanded range of pre-commissioning, deepwater and in-line inspection services, and adds more than 700 process and pipeline specialists to Baker Hughes’ process and pipeline services.
Weatherford Chairman, President and CEO Bernard J. Duroc-Danner said the company would use all proceeds from the transaction to pay down outstanding debt.
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